Caleres, Inc. $CAL Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its stake in Caleres, Inc. by 5.7% in Q1, owning 324,596 shares worth approximately $5.59 million.
• Caleres has been rated "strong sell" by Zacks, and analysts forecast an earnings per share of 3.23 for the current year.
• The company declared a quarterly dividend of $0.07 per share, yielding 1.8%, with the ex-dividend date set for September 12th.

Goldman Sachs Group Inc. decreased its position in shares of Caleres, Inc. (NYSE:CAL - Free Report) by 5.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 324,596 shares of the textile maker's stock after selling 19,517 shares during the quarter. Goldman Sachs Group Inc. owned 0.96% of Caleres worth $5,593,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in CAL. Versant Capital Management Inc grew its holdings in shares of Caleres by 244.0% during the first quarter. Versant Capital Management Inc now owns 1,455 shares of the textile maker's stock valued at $25,000 after buying an additional 1,032 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in shares of Caleres by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 5,097 shares of the textile maker's stock valued at $88,000 after buying an additional 2,548 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Caleres by 33.4% during the first quarter. PNC Financial Services Group Inc. now owns 5,424 shares of the textile maker's stock valued at $93,000 after buying an additional 1,359 shares during the last quarter. GAMMA Investing LLC lifted its position in Caleres by 1,201.7% during the first quarter. GAMMA Investing LLC now owns 5,988 shares of the textile maker's stock valued at $103,000 after purchasing an additional 5,528 shares during the period. Finally, US Bancorp DE lifted its position in Caleres by 21.6% during the first quarter. US Bancorp DE now owns 8,775 shares of the textile maker's stock valued at $151,000 after purchasing an additional 1,561 shares during the period. Hedge funds and other institutional investors own 98.44% of the company's stock.

Caleres Stock Performance

Caleres stock traded down $0.67 during trading hours on Friday, hitting $14.32. The company had a trading volume of 1,399,962 shares, compared to its average volume of 938,832. Caleres, Inc. has a 1 year low of $12.09 and a 1 year high of $34.38. The firm has a market cap of $484.59 million, a P/E ratio of 8.18 and a beta of 1.08. The company has a 50-day moving average price of $14.70 and a two-hundred day moving average price of $15.06.

Caleres (NYSE:CAL - Get Free Report) last posted its quarterly earnings results on Thursday, September 4th. The textile maker reported $0.35 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.16). Caleres had a net margin of 2.26% and a return on equity of 11.91%. The business had revenue of $658.52 million during the quarter, compared to the consensus estimate of $656.93 million. During the same quarter in the prior year, the firm posted $0.98 EPS. The company's revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Caleres, Inc. will post 3.23 EPS for the current year.

Caleres Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, September 12th. Caleres's payout ratio is 16.00%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Loop Capital lowered their price objective on shares of Caleres from $16.00 to $14.00 and set a "hold" rating on the stock in a research report on Friday, May 30th. Zacks Research cut shares of Caleres from a "hold" rating to a "strong sell" rating in a research note on Friday, August 29th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Caleres presently has an average rating of "Reduce" and an average target price of $14.00.

About Caleres

Caleres, Inc engages in the retail and wholesale of footwear business in the United States, Canada, East Asia, and internationally. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label athletic, casual, and dress footwear products. The company provides brand name athletic, casual, and dress shoes, including Nike, Skechers, adidas, Vans, Crocs, Converse, Puma, Birkenstock, New Balance, Under Armour, Dr.